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2019-02-12 07:55:48

AMT

American Tower

$173.07

0.64 (0.37%)

, TMUS

T-Mobile

$68.45

0.08 (0.12%)

…07:55

02/12/19

02/12

07:55

02/12/19

07:55

American Tower price target raised to $180 from $172.99 at KeyBanc

KeyBanc analyst Brandon Nispel raised his price for American Tower (AMT) to $180 from $172.99 and reiterated an Overweight rating on the shares. The analyst believes that if the T-Mobile (TMUS)/Sprint (S) merger goes through, 2020 should be another year of growth acceleration.

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Neutral from Buy at BofA/Merrill with analyst Wamsi Mohan citing his concern that there are likely to be further negative estimate revisions. 2. American Tower (AMT) downgraded to Hold on 'full valuation' at Deutsche Bank with analyst Matthew Niknam saying he sees risk to estimates and a "full valuation" at current share levels. 3. Credit Suisse (CS) downgraded to Hold from Buy at Societe Generale. 4. Puma Biotechnology (PBYI) downgraded to Underweight from Equal Weight at Barclays, to Underweight from Overweight at JPMorgan, and to Underperform from Buy at BofA/Merrill. 5. UPS (UPS) downgraded to Neutral from Buy at Citi with analyst Christian Wetherbee lowering his price target for the shares to $115 from $125. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

12/12/18

12/12/18DOWNGRADETarget $170Equal Weight

American Tower downgraded to Equal Weight after outperformance at Morgan Stanley

As previously reported, Morgan Stanley analyst Simon Flannery downgraded American Tower (AMT) to Equal Weight from Overweight, citing the stock's strong relative performance in 2018 compared to peers. While he remains supportive of the Tower companies overall, Flannery believes American Tower has a slightly more difficult set-up with strong domestic growth more priced in. He maintains a $170 price target on the shares. Flannery keeps Overweight ratings on SBA Communications (SBAC) and Crown Castle (CCI), stating that the Towers as a group have the best business model in his combined Telecom coverage due to their strong operating fundamentals, high barriers to entry and unique competitive characteristics.

12/12/18

MSCO

12/12/18DOWNGRADEMSCOEqual Weight

American Tower downgraded to Equal Weight from Overweight at Morgan Stanley

TMUST-Mobile

$68.45

0.08 (0.12%)

01/25/19

HSBC

01/25/19DOWNGRADETarget $24HSBCReduce

Dish downgraded to Reduce from Hold at HSBC

HSBC analyst Sunil Rajgopal downgraded Dish (DISH) to Reduce from Hold and cut his price target on the shares to $24 from $38, advocating that investors choose "sturdy carriers" such as Verizon (VZ), T-Mobile (TMUS), AT&T (T) and Comcast (CMCSA). For 2019, Rajgopal expects more fragmentation in the content/pay-TV business as more players enter the OTT content market and he expects the pay TV base to shrink further.

01/23/19

MKMP

01/23/19NO CHANGETarget $7.5MKMPBuy

Nokia Q4 earnings should be solid, says MKM Partners

MKM Partners analyst Michael Genovese kept his Buy rating and $7.50 price target on Nokia (NOK) ahead of its Q4 results, saying that earnings should be solid with evidence of 5G contribution, even though the outlook on its potential "won't settle the debate". The analyst notes that T-Mobile's (TMUS) 5G network build demand should also yield a good Q1 outlook with added contribution coming from the accelerated 5G plans from KT (KT) and SK Telecom in South Korea. Genovese adds that the 5G debate centers around investment plans by AT&T (T) and Verizon (VZ), but his checks indicate that the former has not made any final decisions on the timing.

01/18/19

BTIG

01/18/19NO CHANGETarget $91BTIGBuy

T-Mobile price target raised to $91 from $87 at BTIG

BTIG analyst Walter Piecyk raised his price target on T-Mobile to $91 and kept his Buy rating, saying the stock should be a "primary investment" for anyone looking for exposure to 5G. The analyst expects the company to "beat all its peers to the market, becoming a primary beneficiary of the 5G economy", but warns that it may need to spend another $20B to acquire more spectrum.

Goldman Sachs analyst Brett Feldman notes that T-Mobile released its preliminary Q4 results, with postpaid phone net adds of 1.02M beating his estimate of 950k and consensus of 829k, and postpaid phone churn of 0.99% beating his estimate of 1.08% and consensus of 1.04%. This is the first time that T-Mobile has reported postpaid phone churn below 1.0% and the first quarter in which postpaid phone net adds have exceeded 1M since Q4 of 2014, he points out. Feldman believes the net adds beat signals continued wireless sector subscriber momentum.

SSprint

$5.95

0.05 (0.85%)

09/13/18

RILY

09/13/18INITIATIONTarget $46RILYBuy

Shenandoah initiated with a Buy at B. Riley FBR

B. Riley FBR analyst Zack Silver started Shenandoah Telecommunications (SHEN) with a Buy rating and $46 price target. The analyst sees the company benefiting from the merger between Sprint (S) and T-Mobile (TMUS).

10/19/18

WELS

10/19/18NO CHANGEWELSOutperform

Wells Fargo raises odds of T-Mobile-Sprint deal closing to 65%-70%

After meeting with some of her regulatory contacts in DC, Wells Fargo analyst Jennifer Fritzsche said her checks indicate that the regulatory review for T-Mobile's (TMUS) planned merger with Sprint (S) "remains fairly drama free thus far." The FCC review appears to be continuing to proceed as expected, while most contacts she spoke with indicated there does not seem to be any "chatter" coming out of DOJ, Fritzsche tells investors. Following the talks, she is increasing her view of the odds of the deal closing to 65%-70%. Fritzsche has an Outperform rating on T-Mobile and Market Perform rating on Sprint.

10/15/18

CHLM

10/15/18INITIATIONTarget $62CHLMBuy

pdvWireless initiated with a Buy at Craig-Hallum

Craig-Hallum analyst George Sutton started pdvWireless (PDVW) with a Buy rating and $62 price target. The analyst believes upcoming FCC action is set to "dramatically" increase the value o its spectrum assets. Sutton notes that in 2014 the company made a $100M bet, namely they acquired largely dormant 900 MHz spectrum assets from Sprint (S). Following years of behind the scenes actions by pdvWireless, this bet is finally set to pay off in a big way because the FCC appears ready to reallocate a portion of the 900 MHz band from narrow-band to broadband use, he contends.

09/25/18

OPCO

09/25/18NO CHANGETarget $24OPCOOutperform

CenturyLink CFO departure raises concerns, says Oppenheimer

Oppenheimer analyst Timothy Horan notes CenturyLink (CTL) has announced that CFO Sunit Patel will depart as of September 28th to join T-Mobile (TMUS) to lead the Sprint (S)/T-Mobile merger and integration efforts. The analyst expects weakness in CenturyLink's stock, as investors will likely be concerned with synergy realization after Patel's departure. While Horan says his departure is disappointing, he believes CenturyLink has a deep management bench, and Jeff Storey, CEO, will continue to be the driving force behind restructuring and expense reductions at the company. He reiterates an Outperform rating and $24 price target on the shares.